Khaleej Times, 27 December, 2018
The Abu Dhabi property market has seen sales and rents decrease on average for apartments and villas. Only certain areas in the emirate have seen a significant price change, according to a recent report by Bayut, a property portal.
Al Reem Island is the post popular community for apartment sales while the most popular area for villa sales is Al Reef.
For apartments, the most significant price changes occurred in Al Raha Beach, where 2-bedroom units have seen prices fall by 10 per cent, from an average of Dh2 million in H1 to Dh1.8 million now.
The sale prices for apartments in Al Reem remain largely stable. When compared to H1, studio apartments in the area have seen the biggest decrease of 6.5 per cent from an average of Dh620,000 to Dh580,000 now. The average prices for 1-bedroom and 2-bedroom apartments are Dh950,000 and Dh1.5 million, respectively.
Al Reef remains the most popular among buyers for villas. Prices have remained stable throughout H2, with only a slight decrease.
Mohammed Bin Zayed City is the most popular community for apartment rents. For villa rents, Khalifa City A is the most popular.
Khalifa City A has seen the most significant changes in apartment rents. Two-bedroom units have seen a fall in rents from an average of Dh80,000 in H1 to Dh67,000 now. For villas, 5-bedroom units in Al Muroor have dropped in rents by 9.5 per cent from Dh210,000 in H1 to Dh190,000 now.
Mohammed Bin Zayed City remains the most popular area for apartment rents, and compared to H1, studios and 1-bedroom units in the area have seen a decline of 10.7 per cent and 11.1 per cent, respectively. You can find studios for an average rent of Dh25,000, while 1-bedroom units are being offered at a price of Dh40,000.
Khalifa City A remains the most popular area for villa rentals in Abu Dhabi, and prices have experienced minor changes, standing at Dh130,000 for 3-bedroom units and Dh165,000 for 4-bedroom units, while 5-bedroom averages at Dh175,000.
Haider Ali Khan, CEO of Bayut, said: “Abu Dhabi is still a favourable market for investors and tenants. Property prices in the capital city remain on a downtrend that continues from H1 and Q3. However, as the price changes have remained marginal, it heralds the possibility of a change in investor outlook.”